Property giant Cromwell faces credit rating downgrade from Moody’s

SINGAPORE (Sept 18): Ratings agency Moody’s Investor Service is mulling a potential credit rating downgrade on ASX-listed Cromwell Property Group due to its high level of debt.  

The group currently has a Baa3 rating, which represents the lowest Moody’s investment-grade credit rating and implies moderate risk.

This follows Cromwell’s announcement of its proposed consolidation of its Moody’s ratings, for which the group has commenced the process with Moody’s to withdraw its public issuer rating, and to obtain a private issuer rating and a single public rating of Cromwell’s secured debt platform.

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